Saturday, December 28, 2019

Ignore the So-Called Experts; They Keep Getting It Wrong

By Adriana Cohen

It's time to fire the so-called experts.

You know the ones -- the liberal economists with overpriced Ivy League degrees who told us that if Donald Trump were to get elected president in 2016, the economy would crash.

Fast-forward to today: More than $17 trillion in value has been added to the global stock market in 2019, with the U.S. reaping the biggest gains, according to a recent analysis by Deutsche Bank. The Dow Jones Industrial Average, the S&P 500 and the Russell 2000 have all seen massive growth in the Trump economy -- more than 20% this year -- with American tech companies leading the pack.

This is a sharp contrast to what a gamut of left-leaning "experts" predicted including The New York Times chief economist Paul Krugman, who told us after Trump won the 2016 election: "So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened."

Huh? Krugman ought to take a bite of this apple: One of the world's most valuable companies, Apple Inc., saw an 80% increase in its stock value in 2019. While Amazon announced a record holiday shopping season. Software giant Microsoft reaped a 55% increase this year, while Facebook soared 57% in value -- just to name a few U.S. companies whose employees and shareholders are enjoying a golden age of prosperity under the current administration.

Same goes for all Americans who are benefitting from historically low unemployment -- including minorities and women -- and the jobs bonanza, which is lifting millions out of poverty and revitalizing the American dream.

Under the current administration, we've seen a rate increase of 3.1% for wages year over year. Fox Business reported, "Average hourly earnings are $28.29 with a week of take-home pay averaging $973.18 compared to $943.59 in November 2018.".........To Read More....

No comments:

Post a Comment